How Much Employment Practices Liability Costs

staff insurance
staff insurance

The only thing more important than making sure that you have employment practices liability is knowing how much you’ll have to pay for employment practices coverage. It doesn’t matter how big or how small your business is, you need to make sure that you’re adequately covered should one of your employees ever hit you unexpectedly with a lawsuit. So what factors will determine how much you pay for your employment practices coverage?


While figuring out how much your employment practices liability coverage will cost you, insurance underwriters will consider:

  • How many employees you have
  • Your claim history
  • Turnover rates
  • How much your business is worth
  • The industry you’re in
  • Your termination and hiring policies
  • Employee conduct and training procedures

How much coverage you’re looking to get will also play a part in how much you’ll pay for coverage. That being said, you shouldn’t lower the amount of coverage that you need so that you don’t have to deal with expensive premium payments. Remember that your employment practices policy might be the only thing keeping you from potentially going out of business. A majority of coverage limits range anywhere from roughly one hundred thousand dollars to one million dollars. Bear in mind that your policy might also include a deductible.

While you’re looking over employment practices liability plans, review them carefully to make sure that they have the coverage necessary to truly protect you and your business.